Market Update: S&P 500 Hits New High, AI Spending Surges

Today’s Market Update:Thursday, the S&P 500 Index notched a fresh new all-time high, thoroughly shaking off a brief bout of selling that plagued stocks to start the new year. Initially, US equities reacted poorly to new PPI data, causing a sell-off below the 50-day moving average and price support. However, as has been the case over the past couple of years, the correction ended up being nothing more than a bear trap, with investors yet again benefitting from the latest buy-the-dip opportunity. After a froz ...